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09/08/2001
European markets battered by US fall
Europe’s battered stock markets slid further on as further gloomy news on the US economy emerged.
Early morning trading on Thursday 9 August saw the FTSE Euro 300 slip back around 17 points hovering at 1,300.
At lunchtime the FTSE had slipped deeply into the red down 71 points to 5,405, and is well on the way to reaching the July low of 5,300 points.
Profits warnings from technology, telecommunications and pharmaceuticals companies were threatening to drag down shares in across the board, even dragging down other sector stalwarts such as banking giant HSBC who have reported healthy figures.
However, few companies managed too buck the trend. Reid Elsevier, despite worries over falling media advertising revenues, posted strong half-year figures and saw shares climb. As did engineering company GKN who had ridden out a downturn in the automotive sector to report half-year figures that were inside predictions.
Analysts have begun to speculate that the economy-wide worries are adding to investors’ concerns about weak performances in sectors where debt-ridden technology and telecommunications companies are damaging confidence in the markets.
While technology shares were plummeting, BT were leading the fall in the communication sector on the FTSE.
Share prices were further undermined by the US Federal Reserve’s “beige book” economic report that stoked fears that the US economy was performing less well than had been thought previously. (SP)
Early morning trading on Thursday 9 August saw the FTSE Euro 300 slip back around 17 points hovering at 1,300.
At lunchtime the FTSE had slipped deeply into the red down 71 points to 5,405, and is well on the way to reaching the July low of 5,300 points.
Profits warnings from technology, telecommunications and pharmaceuticals companies were threatening to drag down shares in across the board, even dragging down other sector stalwarts such as banking giant HSBC who have reported healthy figures.
However, few companies managed too buck the trend. Reid Elsevier, despite worries over falling media advertising revenues, posted strong half-year figures and saw shares climb. As did engineering company GKN who had ridden out a downturn in the automotive sector to report half-year figures that were inside predictions.
Analysts have begun to speculate that the economy-wide worries are adding to investors’ concerns about weak performances in sectors where debt-ridden technology and telecommunications companies are damaging confidence in the markets.
While technology shares were plummeting, BT were leading the fall in the communication sector on the FTSE.
Share prices were further undermined by the US Federal Reserve’s “beige book” economic report that stoked fears that the US economy was performing less well than had been thought previously. (SP)
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FTSE drops to three-year low
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FTSE drops to three-year low
As the FTSE 100 index of leading UK shares dropped to a three-year low of 5,191.6 in Thursday afternoon trading the American Dow Jones showing signs of immediate nervousness on opening. The reaction came as stock markets throughout Europe plunged to greater depths.
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Shares drop on the FTSE Index
Tech stocks have contributed to a sharp fall on the main FTSE index. Reaching a drop of over 100 points, the fall has been blamed on US tech giant Cisco Systems reporting an 86 per cent drop in its third quarter profits. As a result all the main UK technology, media and telecoms shares saw falls when trading got underway.
Shares drop on the FTSE Index
Tech stocks have contributed to a sharp fall on the main FTSE index. Reaching a drop of over 100 points, the fall has been blamed on US tech giant Cisco Systems reporting an 86 per cent drop in its third quarter profits. As a result all the main UK technology, media and telecoms shares saw falls when trading got underway.
06 August 2003
Pensions deficit tops £55bn for FTSE 100 companies
The combined pension scheme deficit of FTSE 100 listed companies has soared to over £55 billion in the year to July 2003, according to a report published today by actuarial consulting firm Lane Clark & Peacock (LCP). The report says that the estimated deficit equates to 6% of the total market capitalisation of the FTSE 100.
Pensions deficit tops £55bn for FTSE 100 companies
The combined pension scheme deficit of FTSE 100 listed companies has soared to over £55 billion in the year to July 2003, according to a report published today by actuarial consulting firm Lane Clark & Peacock (LCP). The report says that the estimated deficit equates to 6% of the total market capitalisation of the FTSE 100.
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